Creditors extend deadline to accept bids for Hynix stake

SEOUL, Feb. 1 (Yonhap) -- Creditors of Hynix Semiconductor Inc. said Monday that
they have extended the deadline to accept bids for a controlling stake in the
world's second-largest memory chipmaker.

"The creditors have decided to extend the deadline for two weeks up to February
12, a day before the start of the lunar new year's holiday," said the Korea
Exchange Bank, (KEB), Hynix's lead creditor, in a release statement.
"We believe that there are some companies that did not have enough time to go over
buying the stake, as they were in the middle of setting up management plans for
the new year," it said.
KEB said earlier on Friday, the original deadline for the bidding, that Hynix's
creditors failed to sell their 28 percent stake in the company as they drew no
bidders.
The creditors put their controlling stake up for sale this month for the second
time after a previous attempt to sell the stake fell through. Hyosung Group, the
sole bidder for Hynix, dropped its bid in November 2009.
Invitations for South Korean companies to submit bids went out Dec. 20.
ygkim@yna.co.kr
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